If you don’t know already, ZestMoney is India’s largest and fastest growing consumer lending Fintech Company. This is a Bengaluru-based digital lending startup founded by Lizzie Chapman, Priya Sharma and Ashish Anantharaman in 2015. ZestMoney was conceived as a unique platform which can positively impact the lives of more than 300 million households in the country, who currently have no to credit cards and also don’t have access to any other formal financing options because of insufficient credit history. ZestMoney’s unique offering beautifully combines mobile technology, digital banking and AI to make life better for this set of Indian consumers.
If you are a consumer and is considering to avail of the service of ZestMoney, here is how it works – To get started, you need to Sign up with ZestMoney [Log in from: https://www.zestmoney.in/], once you complete the profiling part, you would be informed about your credit limit which is the amount up to which you can borrow. To activate your credit limit, you need to upload some KYC documents and set up automatic repayment and then you will have access to 1000+ ZestMoney merchant partners using your approved credit limit. Once you have made your purchase, you can start replaying by visiting the ZestMoney merchant partner & make payment using your credit limit.
As per an April, 2019 report, ZestMoney announced that they have raised a $20 million. Speaking to TechCrunch the ZestMoney CEO said the new capital will towards further increasing the focus on technology. That includes AI for credit assessment and other analytics, as well as developing voice-based communication and facial recognition technologies that will help engage consumers who are less comfortable with English as a language and lack experience using the internet and digital services. [Ref: https://techcrunch.com]
In April, 2019, ZestMoney has partnered with e-commerce giant Flipkart to present the opportunity to the Flipkart consumers for financial assistance while buying products online. As an inaugural offer, ZestMoney will allow consumers to access finance options at 0% interest for the tenure of three months. The customers need to sign up on the ZestMoney platform and the creditworthiness of the customers would be decided by ZestMoney.
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